XYLG vs. JEPQ

Last updated Jun 3, 2026

XYLG (Global X S&P 500 Covered Call & Growth ETF) and JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) are both exchange-traded funds - XYLG is a Derivative Income fund tracking the Cboe S&P 500 Half BuyWrite Index, while JEPQ is a Nasdaq-100 fund tracking the Nasdaq-100 Index. Both are passively managed. Over the past 3 years, XYLG returned 16.78%/yr vs 20.96%/yr for JEPQ. Their correlation of 0.89 suggests significant overlap in exposure. Both charge a 0.35% expense ratio.

Performance

XYLG vs. JEPQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X S&P 500 Covered Call & Growth ETF (XYLG) and JPMorgan Nasdaq Equity Premium Income ETF (JEPQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XYLG achieves a 8.26% return, which is significantly lower than JEPQ's 9.65% return.

XYLG

• 1D: -0.04%
• 1M: 3.53%
• YTD: 8.26%
• 6M: 9.33%
• 1Y: 24.07%
• 3Y*: 16.78%
• 5Y*: 10.83%
• 10Y*: —

JEPQ

• 1D: 0.26%
• 1M: 4.36%
• YTD: 9.65%
• 6M: 10.05%
• 1Y: 29.60%
• 3Y*: 20.96%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

XYLG vs. JEPQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
XYLG Global X S&P 500 Covered Call & Growth ETF	8.26%	12.93%	22.31%	18.16%	-10.72%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	9.65%	15.18%	24.85%	36.28%	-12.89%

Correlation

The correlation between XYLG and JEPQ is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (All Time) Calculated using the full available price history since May 5, 2022	0.89

The correlation between XYLG and JEPQ has been stable across timeframes, ranging from 0.86 to 0.89 - a consistent structural relationship.

XYLG vs. JEPQ - Sectors Allocation Comparison

Sectors	XYLG	JEPQ
Technology	38.7%	54.0%
Financial Services	11.4%	0.4%
Communication Services	10.8%	15.4%
Consumer Cyclical	9.9%	12.8%
Healthcare	8.3%	4.4%
Industrials	7.7%	3.1%
Consumer Defensive	4.7%	7.1%
Energy	3.4%	0.4%
Utilities	2.7%	1.3%
Real Estate	1.9%	0.2%
Basic Materials	1.7%	1.0%

Return for Risk

XYLG vs. JEPQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

XYLG

XYLG Risk / Return Rank: 78
XYLG Sharpe Ratio Rank: 77
XYLG Sortino Ratio Rank: 79
XYLG Omega Ratio Rank: 80
XYLG Calmar Ratio Rank: 70
XYLG Martin Ratio Rank: 85

JEPQ

JEPQ Risk / Return Rank: 77
JEPQ Sharpe Ratio Rank: 77
JEPQ Sortino Ratio Rank: 73
JEPQ Omega Ratio Rank: 82
JEPQ Calmar Ratio Rank: 68
JEPQ Martin Ratio Rank: 83

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

XYLG vs. JEPQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X S&P 500 Covered Call & Growth ETF (XYLG) and JPMorgan Nasdaq Equity Premium Income ETF (JEPQ). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	XYLG	JEPQ	Difference
Sharpe ratio Return per unit of total volatility	2.55	2.54	+0.01
Sortino ratio Return per unit of downside risk	3.59	3.35	+0.24
Omega ratio Gain probability vs. loss probability	1.48	1.50	-0.02
Calmar ratio Return relative to maximum drawdown	3.56	3.42	+0.14
Martin ratio Return relative to average drawdown	18.01	16.82	+1.18
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XYLG vs. JEPQ - Sharpe Ratio Comparison

The current XYLG Sharpe Ratio is 2.55, which is comparable to the JEPQ Sharpe Ratio of 2.54. The chart below compares the historical Sharpe Ratios of XYLG and JEPQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	XYLG	JEPQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.55	2.54	+0.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.78	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.99	1.01	-0.02

Drawdowns

XYLG vs. JEPQ - Drawdown Comparison

The maximum XYLG drawdown since its inception was -21.30%, which is greater than JEPQ's maximum drawdown of -20.07%. Use the drawdown chart below to compare losses from any high point for XYLG and JEPQ.

Drawdown Indicators

	XYLG	JEPQ	Difference
Max Drawdown Largest peak-to-trough decline	-21.30%	-20.07%	-1.23%
Max Drawdown (1Y) Largest decline over 1 year	-6.93%	-8.82%	+1.89%
Max Drawdown (3Y) Largest decline over 3 years	-17.42%	-20.07%	+2.65%
Max Drawdown (5Y) Largest decline over 5 years	-21.30%	—	—
Current Drawdown Current decline from peak	-0.04%	0.00%	-0.04%
Average Drawdown Average peak-to-trough decline	-4.10%	-3.42%	-0.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.37%	1.79%	-0.42%

Volatility

XYLG vs. JEPQ - Volatility Comparison

Global X S&P 500 Covered Call & Growth ETF (XYLG) has a higher volatility of 2.55% compared to JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) at 1.25%. This indicates that XYLG's price experiences larger fluctuations and is considered to be riskier than JEPQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XYLG	JEPQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.55%	1.25%	+1.30%
Volatility (6M) Calculated over the trailing 6-month period	7.58%	9.07%	-1.49%
Volatility (1Y) Calculated over the trailing 1-year period	9.49%	11.73%	-2.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.00%	16.62%	-2.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.87%	16.62%	-2.75%

XYLG vs. JEPQ - Expense Ratio Comparison

Both XYLG and JEPQ have an expense ratio of 0.35%.

Dividends

XYLG vs. JEPQ - Dividend Comparison

XYLG's dividend yield for the trailing twelve months is around 13.01%, more than JEPQ's 10.06% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	10.06%	10.53%	9.65%	10.03%	9.44%	0.00%	0.00%
XYLG Global X S&P 500 Covered Call & Growth ETF	13.01%	13.94%	23.65%	4.90%	6.43%	7.40%	1.39%

Frequently Asked Questions

Can I hold both XYLG and JEPQ in my portfolio?

XYLG and JEPQ have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XYLG or JEPQ?

XYLG has higher volatility (2.55%) compared to JEPQ (1.25%). In terms of maximum drawdown, XYLG dropped -21.30% vs JEPQ's -20.07%.

Which ETF is better, XYLG or JEPQ?

On 3-year performance, JEPQ leads with 20.96% vs 16.78% for XYLG. Both ETFs have the same 0.35% expense ratio. On volatility, JEPQ has been the lower-risk option at 1.25%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XYLG or JEPQ?

Over the 3-year period, JEPQ has performed better with a 20.96% return vs 16.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XYLG or JEPQ?

XYLG and JEPQ have the same expense ratio: 0.35% per year.

Which ETF pays a higher dividend yield, XYLG or JEPQ?

XYLG has the higher dividend yield at 13.01%, compared with 10.06% for JEPQ.

What is the main difference between XYLG and JEPQ?

XYLG is categorized as Derivative Income, while JEPQ is Nasdaq-100. XYLG tracks Cboe S&P 500 Half BuyWrite Index, while JEPQ tracks Nasdaq-100 Index. They also come from different issuers: Global X and JPMorgan.

Which has better risk-adjusted returns?

XYLG currently has the higher Sharpe Ratio (2.55 vs 2.54), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.